GLOUCESTERSHIRE GATEWAY LIMITED
Company number: 07002304
Reporting period:
2 July 2018 to
30 December 2018
This report was filed on 11 January 2019
and approved by Laurence King
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 21%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 31%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
105 days
Standard payment terms
Our policy is to comply with the payment terms of our suppliers. Where no terms are specified we apply 30 days from the invoice date. We currently operate a weekly payment run.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
105 days
Our longest agreed payment term is 105 days, this is for one supplier who requested these payment terms. Our next longest payment terms are 60 days.
Any other information about payment terms
Instead of using invoice receipt date we have used invoice date in our calculations which will impact on our statistics.
Dispute resolution process
Invoices in dispute go on hold and we contact the supplier to resolve the issue. Once resolved the invoice will be paid on the next weekly payment run.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No